Lam Research Corporation (NASDAQ:LRCX) stock surged on Thursday after the company reported better-than-expected fiscal fourth-quarter 2026 results, issued strong forward guidance on Wednesday and drew a wave of bullish analyst commentary.
The stock received a rating reaffirmation from Needham on Thursday.
Needham analyst Charles Shi maintained a Buy rating and a $390 price forecast on the stock following the release of the company's second calendar quarter of 2026 financial performance and updated guidance metrics.
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CSBG results were "driven primarily by NAND upgrades and spares," Needham said.
